Jan 28 Beats By Dre Expanding HQ to 65,000 SF in Culver City

Beats By Dre's expansion from Santa Monica to Culver City, from pristine office to gritty converted warehouse space, epitomizes a key trend we continue to see in LA's commercial real estate market. Santa Monica's soaring rents and minimal availabilities (especially for large contiguous space) has continued to push creative tenants to peripheral markets like Culver City, Marina del Rey, El Segundo and Downtown LA. Along with Silicon Beach's growth, these markets will continue to grow and build their infrastructure to attract more creative tenants.LA Times, 1/28/13

Musical electronics retailer Beats by Dr. Dre will move its headquarters from a plush office park in Santa Monica to gritty-looking former warehouses in Culver City.

The electronics company that sells such music-related products as headphones, earphones and speakers is now in the Water Garden, a luxury office complex dating to the early 1990s. The Culver City warehouses that will become its offices were built in the late 1940s.

“This transaction provides an opportunity for Beats to move from a more traditional corporate venue to an exceptionally creative campus setting, better reflecting its brand and offering a vibrant, open work environment for its employees,” Gorin said.

Terms of the lease were not disclosed, but real estate experts familiar with Culver City’s burgeoning creative office market valued the deal at around $20 million.